NEW YORK, Jan. 27, 2014 /PRNewswire/ -- ONE Gas Inc. (NYSE: OGSwi) will replace Valassis Communications Inc. (NYSE: VCI) in the S&P MidCap 400 after the close of trading on Friday, January 31. S&P 500 constituent ONEOK Inc. (NYSE: OKE) is spinning off ONE Gas in a transaction expected to be completed after the close of trading on that date. Valassis Communications is being acquired by Harland Clarke Holdings Corp. in a deal expected to be completed soon pending final conditions. ONEOK Inc. will remain in the S&P 500.
ONE Gas operates as a regulated natural gas distribution utility company. Headquartered in Tulsa, OK, the company will be added to the S&P MidCap 400 GICS (Global Industry Classification Standard) Gas Utilities Sub-Industry index.
Following is a summary of the change:
S&P MIDCAP 400 INDEX – January 31, 2014
GICS ECONOMIC SECTOR
Additions to and deletions from S&P Dow Jones Indices do not in any way reflect an opinion on the investment merits of the companies involved.
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